Economics: Altrad completes acquisition of Sparrows

Sparrows is now part of the Altrad group. (© Sparrows)

Announced last March, Altrad ended July 11 the acquisition of the Sparrows groupan important player in engineering, inspection, operation and maintenance services.

In the last twelve months, Altrad has achieved a significant number of acquisitionsadding more than 1,400 million euros a your billing Worldwide. In the coming years, the group will continue to invest in other companies such as the Sparrows group while creating value and developing and diversifying its portfolio of services and products.

A turning point for Sparrows

Sparrows is a world-class provider of engineering, inspection, operations and maintenance services to the marine power, renewable energy and industrial sectors. The company has a presence in the Americas, UK and Europe, Africa, the Middle East, the Caspian Sea, India, Asia-Pacific and Australia, which nicely complements Altrad’s presence around the world.

“This is a pivotal moment for Sparrows,” underlines its president, Stewart Mitchell, who details: “The acquisition has many benefits for us and our customers as we continue our unwavering growth trajectory. We are a human company and part of the Altrad group offers even more opportunities our employees to develop their skills as part of a fulfilling career. By working together to share our experiences and knowledge, we will be able to support each other’s growth aspirations, while our combined service offerings will enable us to deliver integrated solutions to increasingly global clients.”

Altrad expands its competencies

The deal, which includes Sparrows’ wind power business, through the Alpha business, enriches Altrad’s service portfolio and further diversifies its presence across multiple markets, particularly the fast-growing renewable energy market. It is also an important desire, in Altrad’s focus and ambition, to target and invest in companies that share its enthusiasm, vision and values, to offer ever higher quality services to its clients.

“We are delighted to welcome Sparrows and their teams of over 2,000 people to our group. It is a specialized and recognized company in the lifting and handling trades, with a level of technical specialization and extensive experience; this is an extremely valuable addition that will further expand our capabilities,” explains Ran Oren.

Altrad’s Co-CEO adds: “We are also committed to investing in Sparrows to support its continued growth so that together we can play a leadership role, supporting our industry to enable it to ensure total safety in operations while accelerating the transition to a a more sustainable future.” As part of the Altrad group, Sparrows will benefit significantly from a greater network of expertise and resources to offer additional services in a greater number of geographies and locations.

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